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Dan Gilbert: Growing loan company into business empire

Dan Gilbert has used the personal fortune amassed from founding successful Detroit-based Quicken Loans Inc. to create an empire that now includes the NBA's Cleveland Cavaliers and a pair of under-construction casinos in Ohio.

Gilbert, 48, remains deeply committed to Detroit, too.

This summer, he made good on a long-standing commitment to move Quicken's headquarters and 1,700 employees from Livonia to downtown by signing a lease for 244,000 square feet at the Compuware Corp. headquarters.

Gilbert also recently announced a purchase agreement on the Madison Theater building near Grand Circus Park and may be interested in others downtown to bring more of his employees into the city.

Also coming downtown is Fathead LLC, the Gilbert-owned vinyl sports and entertainment wall-graphics firm. It relocated its 50 employees from Livonia to the same location at Quicken -- another example of the expectation he has that businesses in which he invests may end up downtown.

He's also co-chairman of the public-private M1 Rail project that plans to build a light-rail line on Detroit's Woodward Avenue beginning next year, and he founded in 2007 the entrepreneurial boot camp Bizdom U, which has helped create at least eight startups in the city.

Gilbert also is co-launching a new venture capital fund, Detroit Venture Partners, aimed at seeding early startups in digital technology and digital marketing.

"There's a lot of people that talk a big game, toast their cocktails and do nothing about it. Dan's got the guts to do it," said Josh Linkner, founder and chairman of Pleasant Ridge-based online promotions and sweepstakes company ePrize LLC (of which Gilbert is a $32 million investor and board member).

Linkner is a partner with Gilbert in the new venture fund, which is being raised from their personal money.

"That's another example of him rallying people together," Linkner said. "I would characterize him as a truly brilliant visionary. He puts his own neck on the line."